Top 5 Mistakes Business Owners Make and How To Fix Them
Table of content for quick navigation
- 1 Top 5 Mistakes Business Owners Make and How To Fix Them
- 1.1 1. Trying to do everything themselves
- 1.2 2. Focusing on only one type of marketing
- 1.3 3. Mistake of not engaging professional and effective marketing
- 1.4 4. Poor customer service
- 1.5 5. The fifth mistake that business owners make is that they don’t listen or test new
Today I want to show you the top 5 mistakes business owner make. So, are you making this mistakes? Probably.
But I’m going to show you guys what they are and how to fix it. So, let’s check it out.
1. Trying to do everything themselves
First mistake business owners make is try to do everything themselves. If you do this, you’re going to drive yourself insane.
If you’re doing all the bookkeeping, all the marketing, opening in the morning, closing
at night, and all the advertising and answering all the calls, and taking care of customers,
you’re going to quickly find that you built yourself a job and not a business.
That ‘s not a situation you want to be in, because you limit the growth that your company can go. The solution to this is simple. Delegate, delegate to your employers, delegate to another companies, hire people that can help you, or find a marketing company, find a bookkeeping service, find other companies and other services that
can help you with your business. When you do this, you will find more time to spend rolling
your business, instead of working in your business. You never want to work in your business,
you want to work on your business. So, learn how to delegate.
2. Focusing on only one type of marketing
Second mistake business owners make is only focusing on one type of marketing. There are many types of
marketing, you should be really taking part in all of them to really get the best marketing
and advertising campaign possible. There is online marketing, print marketing, direct
mail, and TV and radio, and more.
And the type of business you own could affect the type of marketing you do. So, if you are
in online business you may want to spend a little bit more time and money in online marketing,
but it does not mean you should eliminate all the other ones. And you can go even further
in that, so if you want to do online marketing, you can do video marketing, you do website
SEO, you can do video SEO. You can do paper click campaigns, you can do banner ads, you
can focus on social media. There is million different ways to go, and each category can
go deeper, and deeper, and deeper. For example, if you want to do video marketing, you can
do video SEO marketing, Google marketing, or YouTube marketing. It will take some type,
and it may cost you a little bit of money, but in the end you will have a huge, powerful
marketing campaign that will be setup in multiple different out news and that’s really the
best way to go.
3. Mistake of not engaging professional and effective marketing
Third mistake business owners make is that most business owners think that they are marketing gurus. And the truth is, you’re not. There are lot of
things you can do on your own, and there is a lot of research you can do, and you can
learn a lot of things. But really, focus should be on your business.
And so, what you should do is hire employees who know marketing, or seek out a marketing
company. So, if you want to do a video marketing, hire a video marketing company. If you want
to do website SEO, do website SEO. If you want to do some print advertising, hire a
print advertising company. And if you do marketing on your own you need to realize it may not
be as powerful and effective as it should be. For example, if you own a coffee shop,
and you probably make a really good cup of coffee. Now I can make a cup of coffee, my
neighbor can make a cup of coffee, almost anyone can make a cup of coffee, but since
you own a coffee shop you do that on a daily basis, you know hot to make the perfect cup
of coffee. So, when you compare my cup of coffee to your cup of coffee, yours is going
to blow mine out of water. Yes, I’ve got it done, but it’s not very good. So, the
same thing goes with marketing. If you really want to get effective marketing you should
hire people to do it for you. So, if you want to do online marketing, hire an online marketing
company. If you want to do video marketing, hire a video marketing company. If you want
some video SEO done, hire a video SEO company, or hire employees to do it for you.
4. Poor customer service
Fourth mistake business owners make is that most business owners don’t care about their customers. As a business
owner there is a lot of you need to be doing, and like I mentioned in mistake no. , you
should be focusing lot on marketing. And if you are, that’s awesome, but you can not
forget to cater to the customers that you do have. Now, you want to focus on the customers
you have, because you want to keep back to them again, and again, and again. And if you’re
spending too much time on marketing, driving new customers into your business, that’s
great. But what happens if they don’t come back again. You want your customer service
to be so stellar that customers keep coming back again, and again, and again.
There is a few things you can do to ensure your customers are happy, and they keep back
to you time and time again. If you notice a regular customer keeps coming back,
offer them a free cup of coffee, if you own a coffee shop, or if you own a
running store, maybe give them a water bottle with your logo on it. Or if you own a retail
store, give them a discount on the next purchase. Or if you own an online store, you notice
that some kids buying from you time and time again, contact them, let them know you’re
thankful for the business, and then offer them the discount code use on their next order.
Small things make a customers happy, and they end up telling their friends, and they
say, hey this company gave me a free water bottle, I have a free cup of coffee here, or
this company gave me a discount on my last order, because I buy from them so often. They
are great company. And that’s what you want, you want word of mouth, because those are
the best types of marketing you can do. And you can’t really pay for that.
Now, let me give you an example how I use the customer offer method last month in my own business. So, I
had a customer who ordered a business plan, and he was so happy what we did for him through
our business plan package, which he succeded in getting the loan he wanted, that he told all his friends, and all his colleagues about us.
And so he ordered more business plan from us, and I gave him a percent of discount on
both of these packages. And now that I give him a discount I know he is going to remain
loyal , he will continue to go up and tell his all friends and colleagues about us.
And tell everyone about my business plan service. And that’s what you want as a business owner.
You want your customers to go out and tell other people about it. If you’re giving things
right, your customers will go out, and they will tell everyone they know about your service.
And other great thing you can do is run a contest or a giveaway.
So, what you do is, you are going to give card for or bucks, and you tell your customers that are coming
to your store everyday, or you tell them via e-mail or how are you want to do it, that
we’re running a contest, we’re giving away a free gift card at the end of the month.
So, all you need to do is to enter, like our Facebook page. And so what’s going to happen is, you’re going to get a tone of likes to your FB profile,
and you’re going to get a tone of leads, because now every single person that uploaded
their picture to your timeline is now your new client, and you can contact them, say
hey, I’m sorry you didn’t win a contest, but here is the discount, you know, check
us out, come in and get a free coffee, or whatever. And you get these people into the
doors. And all it really cost you is or dollar a gift card.
5. The fifth mistake that business owners make is that they don’t listen or test new
Ideas. And this is really important for any of business, because business is always evolving,
methods are always evolving. So, if you’re not changing things up, you’re getting to
get left behind. And if you haven’t changed anything, or tested anything in last months,
it’s about time you do.
And the best way to do this is ask your employees, or ask your customers what they like and they
don’t like, or what they would change about the business. The best way to do this, is
to ask your employees, hey, are there any things you would do differently, what do you
like, what do you don’t like. Is there a ways we could be more efficient, the things
that you would change. And you start getting a list of things together, and then you can
pick the best ways and methods that start testing and changing. Now, before you implement
something you make a standard procedures, you should always test it. What may look like
a great idea, may not be a great idea. But what doesn’t look like a great idea could
be, so only way to do this is to really just test it, and then find out what works. Now,
the next thing you do is ask your customers. Your customers are what keep you in business.
So, you want to make sure that they are happy. If there’s things that they don’t like you
really want to change this, but what you should do is send out comic cards, ask people’s
opinions, tell them, hey, can win a gift card in a month, if you fill out this survey. Things
like that. You can really get a lot of feedback from your customers. Now, if your customers
are telling you, hey, I really like this, and I really like this, they’ll keep those
things, obviously. But, if they’re saying things like, I don’t really like this, or
it takes too long to do this, or I don’t like your hours, or whatever, those are things
to begin testing, and those are things to begin changing.
And sadly, a lot of business owners don’t do this, they get stuck in their ways, and
they think, hey, business is great, I don’t really need to change anything. But yes, even
if the business is great, it could be even better. There is always things to improve
on, if you’re not improving on anything, then you’re going to be left behind eventually.
That goes for marketing as well. If you have the marketing technique that’s working for
you, that’s great, but there could be one that works even better. And you need to test
things, and you need to try things, you need to try different marketing techniques, and
if you’re not doing that, than you’re not really having the best marketing campaign
possible. So, if you’re not testing things you should, you should be testing new methods,
new marketing ideas, new procedures, and really if you do this, you’ll actually notice your
business is running a lot smoother, lot more efficient, and you’re making a lot more money.
So, I hope you find these useful, and we wrote an article on this on our website with a few
more ideas, and you can access it on the link below.